Just create an otherwise blank Title, and use either a graphic of an "arrowhead," or choose a Symbol Font. You can use Keyframes on Effect>Motion>Position to locate it, and can even animate it to follow. You can use Effect>Motion>Scale to change the size.

Yes. There are several ways it can be done. You could use a still image of an arrow, overlaying it on a different video track, and position it with Motion Effects to position it. With keyframing you could animate it if you wish. Picture-in-Picture / Videomerge will also do the job. The simplest of all is probably Bill Hunt's creative use of Titler and fonts described here: Adding arrows etc

Here is a look at one that I just did, with Titler. I used the Wingding3 font, and added a Style to it. The Rotation, the Position and the Scale were done in Titler. I could also animate the Arrowhead to follow a subject with Keyframes, and could also Rotate it, with Keyframes, if needed.

You are most welcome. As with many things in PrE, there are often several ways to achieve the same result. The choice of method will often depend on how one likes to work best.

Personally, I often reach for Photoshop and Illustrator, before using Titler, though it is a very powerful tool, and should not be dismissed.

Here, we can do it easily in Titler, but might want to "draw" the arrowhead with Shapes (or even in another program and bring it in as a logo?), or might like the ease of picking a symbol that has already been drawn for us. Neither is the right, nor the wrong answer. Same result (within limits), but two different workflows.

Now, when you want to animate that arrowhead, the operative word is "Keyframes."